Advantech Announces Acquisition of Innocore Gaming Ltd.
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(Cincinnati, Ohio - 11/02/10) - Advantech, a global embedded computing leader providing embedded platform solutions across multiple vertical markets acquires Innocore Gaming Ltd., an embedded gaming platform provider in the UK.
Innocore Gaming Ltd. was founded in 2007 with its headquarters in Newcastle, UK. The company specializes in designing and manufacturing of industrial grade hardware and dedicated software to the gaming industry. Innocore generated total sales of £5.3 million with 87 percent of its sales made in the European and US markets and an underlying operating profit of £0.4 million in 2009.
K.C. Liu, Chairman and CEO of Advantech stated, "Advantech has been looking for the right opportunity to enter the vertical market of gaming. Innocore has an unrivalled brand name and with an impressive track record of growth, product development, and dedicated experience providing the ideal opportunity for Advantech. After the acquisition, the business unit will be rebranded to Advantech-Innocore and the current Innocore CEO, Edward Price, who has proven track record of more than 12 years in the gaming industry, will continue to lead Advantech-Innocore."
Edward Price, Managing Director of Innocore said, "We see this merger as a significant event that creates the single most capable and effective supplier to the gaming industry. Advantech is undoubtedly the most successful industrial PC Company with phenomenal strengths in R&D, manufacturing, and worldwide sales. Innocore, with its specialist industry knowledge, will bring those strengths to the gaming industry.
As part of Advantech-Innocore we can do things that we only dreamed of in the past. The combined engineering R&D team, of more than 600 people, will allow us to expand and accelerate our product roadmap as well as take on limitless custom projects."
Advantech is committed to ensure continuous satisfaction of Innocore's existing customers, which will be the highest priority for Advantech-Innocore. To guarantee this, the stability of Innocore's supply chain, eco-partners, and customer service will be carefully maintained after the acquisition. Advantech has four service centers, regional sales offices, and technical support in 18 countries and 39 cities throughout the world to provide further opportunities and more advanced local support to customers. The new Advantech-Innocore business represents a major leap forward for the gaming computing market.
Advantech Corporation, Industrial Automation Group
Founded in 1983, the Industrial Automation Group of Advantech Corporation is a pioneer in eAutomation technology; combining connectivity, flexibility and ruggedness with today's most reliable PC-based automation technologies. Product offerings include: Open HMI platforms, Industrial Ethernet, Automation Controllers, Automation Software, Embedded Automation Computers, Distributed I/O Modules, Plug-in I/O, and Industrial Communication solutions for a wide array of industries. With more than 20 years experience in providing a full range of products to different vertical markets, the Industrial Automation Group is proving to be a globally leading Automation Product and Services provider. US operations for the Industrial Automation Group are based in Cincinnati, OH (800-205-7940).
Advantech Corporation,
Industrial Automation Group,
1320 Kemper Meadow Drive,
Suite 500, Cincinnati, OH 45240.
Website: http://www.advantech.com/ea.
Email: eAinfo@advantech.com.
